ANNOUNCEMENT -- In relation to the matter of Arcontech Corporation (Stock Code: 8097) Cancellation of listing in accordance with Rule 9.14 of the GEM Listing Rules
Regulatory
26 Oct 2005
THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)
ANNOUNCEMENT
In relation to the matter of Arcontech Corporation (Stock Code: 8097)
Cancellation of listing
in accordance with Rule 9.14 of the
Rules Governing the Listing of Securities on
The Growth Enterprise Market of
The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules")
The Stock Exchange of Hong Kong Limited (the "Exchange") announces that the listing of the shares of Arcontech Corporation (the "Company") will be cancelled with effect from 9:30 a.m. on 28 October 2005 in accordance with Rule 9.14 of the GEM Listing Rules.
Dealings in the shares of the Company have been suspended since 27 June 2003. On 22 March 2005, the Company announced that the Exchange proposed to exercise its right to cancel the listing of the shares of the Company on the Exchange. The Company was given a period of six months (expiring on 10 September 2005) for the submission of a viable resumption proposal and to remedy those matters that gave rise to the Exchange's proposal to cancel the listing of the Company (the "Deadline"). The Company was required to submit such resumption proposal at least 10 business days as defined in the GEM Listing Rules before the Deadline. Following the suspension in the trading in the Company's shares and before the Deadline, a resumption proposal was submitted to the Exchange. However, the GEM Listing Committee decided that the resumption proposal was not viable. By the end of the Deadline, the Company has failed to submit a viable resumption proposal as required. Therefore the Exchange will cancel the listing of the Company's shares.
The Exchange has notified the Company of its obligation under Rule 9.17 of the GEM Listing Rules to publish an announcement providing details of the Exchange's decision and the consequences to shareholders of the Company.
The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.